• About
  • Contact
Wednesday, January 20, 2021
Next Big Brand
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview
No Result
View All Result
Next Big Brand
Home News

Indian Short Video Apps Are Showing Money & Luring Influencers

Pritish raj by Pritish raj
August 21, 2020
in News
3 min read
0
Influencers Money- Next Big Brand

Influencers Money- Next Big Brand

Share on FacebookShare on Twitter

Indian short-video service providers have started throwing big money at influencers in their quest to retain users on their platforms to get exclusive rights to the content. One company has even designated a multi-million dollar fund to acquire influencers, according to an industry executive.

Influencers are a critical pillar of the growth strategy for short video platforms, which attempt to scale up quickly to fill the gap created after TikTok’s ban. In addition to enhancing user retention, the presence of an influencer who can attract big crowds is crucial to attracting new users.

The connection between user and influencer is different for mature platforms such as Instagram and Twitter. Influencers need platforms more than platforms need them. On the other hand, growing platforms need to spend money driving influencers toward them.

Recently, Mitron has raised $5 million in funding led by Nexus Venture Partners. Talking to NBB Shivank Agarwal (Founder, Mitron) said, ” We are planning to expand our team and develop our product. The funding will help us in making our community strong. We plan to make different community artists such as singers, poets, dancers, and many more. We plan to bring on creators and influencers who will bring users along with them.”

Another home-grown app Chingari raised funding from Tinder’s Chief Product Officer Brian Norgard and OLX co-founder Fabrice Grinda.

Talking to Next Big Brand, Biswatma Nayak (Co-founder, Chingari) said, “We are excited to be mentored by experienced leaders such as Grinda & Norgard and their vast knowledge will help us in growing”

Chingari Video- Next Big Brand
Chingari Video- Next Big Brand

“We will use this fund to strengthen our engineering team and we are hiring tirelessly. Apart from this, we will focus on vernacular audience and creators, bringing them on board.”

So these apps are now focussing on bringing the influencers on board by paying them money like TikTok. TikTok had a huge financial backing and hence didn’t shy away from paying money to the creators.

When we asked Viraj Sheth, CEO, and Co-Founder, Monk Entertainment an influencer marketing and talent management company about this, he said, ” I think creators are already following the suite and a lot of top creators have moved to Indian short video platforms. They have a very loyal fan base and that is why the users will also migrate to the apps where they will find their favorite influencers”

Backed by large groups and investors, MX Taka Tak and ShareChat are seen as the big spenders, while smaller ones like Chingari are trying to acquire creators.

Experts said their user experience and artificial intelligence (AI) algorithms played a critical role in their success while TikTok gained from acquiring influencers.

Speaking on the same lines, Bhawna Sethi (Founder, Lets Influence) said, ” TikTok was highly successful in India due to their simple tools and ease of usage which democratized the content available on it. They had the money to invest in Artificial Intelligence (AI) & Machine Learning (ML) which is tough for Indian startups right now.

With more apps coming into the market, the war of who will pay more is starting and influencers also choose to go to the platform which is paying them more. TikTok was highly successful due to its technology and it involved 100s of people.”

With all these insights, the market is shaping up for a change and it can go either way as Indian apps need huge money to reach the technological advancement level TikTok had and influencers need to make their choice wisely that which part they are going.

Previous Post

Shares Of Tesla Closes At All Time High, Crosses Market Cap of Walmart

Next Post

Elon Musk Becomes 5th Centibillionaire As Tesla Shares Surge Up

Pritish raj

Pritish raj

Pritish Raj is a content writer at Next Big Brand. Hailing from the diversified state of Bihar, he is an engineer by education who chooses the way of poetry, photography, and writing to kick off his career. Highly enthusiastic about brands and startups, he aims to be a travel content creator.

Related Posts

Indian Government Strictly Asks WhatsApp to Withdraw New Policy Change
News

Indian Government Strictly Asks WhatsApp to Withdraw New Policy Change

January 19, 2021
Agri-Tech Start-Up DeHaat Raises $30 Million of Funding in the Series C Round
News

Agri-Tech Start-Up DeHaat Raises $30 Million of Funding in the Series C Round

January 19, 2021
Hike Messaging App Shuts Down: Vanishes from Play Store and App Store
News

Hike Messaging App Shuts Down: Vanishes from Play Store and App Store

January 19, 2021
Cure.fit Empowers its US Operations with Onyx Acquisition
News

Cure.fit Empowers its US Operations with Onyx Acquisition

January 18, 2021
Big Bull Backed Nazara Technologies Becomes first Indian Gaming Company to File for IPO
News

Big Bull Backed Nazara Technologies Becomes first Indian Gaming Company to File for IPO

January 19, 2021
Under Pressure WhatsApp Delays its Controversial New Policy Update
News

Under Pressure WhatsApp Delays its Controversial New Policy Update

January 16, 2021
Next Post
Elon Musk Centibillionaire Paycheck Tweet- Next big Brand

Elon Musk Becomes 5th Centibillionaire As Tesla Shares Surge Up

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

RECOMMENDED NEWS

NinjaCart supply- Next Big Brand

NinjaCart To Supply Fruits,Vegetables Directly To Homes During Lockdown

10 months ago
Tanishq Story- Next Big Brand

Tanishq- Remarkable Story Of Turnaround & Interpretation Of Consumer Behavior

3 months ago
Koshy George

Marico Appoints Koshy George As The New Chief Marketing Officer

2 years ago
Smartphone brand - Next Big Brand

Smartphone Brands That Lost Market Share in India

12 months ago

FOLLOW US

  • 22.3k Fans

BROWSE BY TOPICS

2018 League amazon Amazon Great Indian Sale Amazon Prime Apple Apple Inc Automobile Industry Balinese Culture Bali United Budget Travel Champions League Chopper Bike Doctor Terawan facebook Facebook app future group hotstar Indian OTT Platforms Indian Smartphone Market Istana Negara Jio Market Stories Maruti Suzuki National Exam Netflix Netflix India Netflix Originals oppo OTT OYO Realme Reliance Industries Limited Reliance Jio RIL Samsung Tata Motors Tiktok TikTok India TikTok Videos Visit Bali Vivo whatsapp Xiaomi Xiaomi India YouTube
Next Big Brand

We Talk About Brands

Follow us on social media:

Recent News

  • Understanding AI- Powered Tech Platform for School Children Skill Development with Amit Bansal
  • Indian Government Strictly Asks WhatsApp to Withdraw New Policy Change
  • Agri-Tech Start-Up DeHaat Raises $30 Million of Funding in the Series C Round

Instagram

Follow Me!

Latest News

Understanding AI- Powered Tech Platform for School Children Skill Development with Amit Bansal

Understanding AI- Powered Tech Platform for School Children Skill Development with Amit Bansal

January 19, 2021
Indian Government Strictly Asks WhatsApp to Withdraw New Policy Change

Indian Government Strictly Asks WhatsApp to Withdraw New Policy Change

January 19, 2021
  • About Us
  • Privacy Policy
  • Terms and Conditions
  • Disclaimer
  • DMCA Policy
  • Our Team
  • Contact Us
  • Sitemap

© 2019 NBB. All Rights Reserved.

No Result
View All Result
  • .
  • News
  • Internet
  • Startup
  • OTT
  • Agency
  • Industries
  • FMCG
  • Automobile
  • Retail
  • Tech
  • Case Study
  • Interview

© 2019 NBB. All Rights Reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.